MrBeast doesn’t consider himself rich even though he makes $700 million a year, says his mother takes care of his bank accounts

• MrBeast, YouTube’s biggest creator, doesn’t think he’s rich.

• Despite huge advertising revenue and brand deals, he claims he is not rich because of his reinvestment strategy.

• He also doesn’t have access to his bank accounts, unlike his mother.

MrBeast doesn’t think he’s rich.

The YouTuber, whose real name is Jimmy Donaldson, is the biggest creator on the platform, with 239 million subscribers. But that doesn’t mean he pockets the money he earns from his videos, which regularly rack up hundreds of millions of views.

With immense advertising revenue and branding deals, Donaldson has the resources to do just about anything he wants. And what he chooses to do, he told Time in a recent profile interview, is to put everything back into his content.

Donaldson told the outlet that he makes between $600 million and $700 million a year. He also recently made $250,000 from an old video he reposted on X, after months of CEO Elon Musk trying to court him on the platform.

But Donaldson claims he is not personally wealthy.

“I mean, not right now,” he told the outlet. “I’m not naive; maybe one day. But for now, whatever we win, we reinvest.”

Donaldson, 25, said he didn’t even have access to his bank accounts and that his mother was “the one with access to the main bank account.”

Each video brings in “a few million” from ads and “a few million in brand deals,” he told Time. But it all comes down to doing more.

He also said that sometimes it can take 12,000 hours of footage to make just a 15-minute video, meaning the costs can be enormous.

As of 2022, Donaldson said he spends $8 million per month on his videos, a total of nearly $100 million per year, and his stunts have since become even more ambitious and expensive.

Some of his latest videos include being buried alive for seven days, building 100 wells in Africa, and shredding a Lamborghini.

“I reinvested everything to the point of – you could say – stupidity, just believing that we would succeed,” he told Time. “And it worked.”

Read the original article on Business Insider